Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II

5 Days Left

Class Action Period:
July 06, 2021 - November 08, 2022

Lead Plaintiff Deadline:
April 29, 2024

Case Form

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The submission of this form does not create an attorney-client relationship.

Allegations

The filed complaint alleges that Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II made materially false and/or misleading statements and/or failed to disclose that: (a) Nextdoor’s financial results prior to the November 2021 merger with Khosla Ventures Acquisition Co. II, had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled forward demand for Nextdoor’s platform and cannibalized future advertising revenue growth; (b) rather than being sustained, such growth trends had already begun reversing at the start of the class period; (c) Nextdoor’s total addressable market was materially smaller than the 312 million households represented to investors; (d) by the start of the class period, Nextdoor’s most important market – the U.S. market – was already substantially saturated, impairing the Company’s ability to monetize users and increase its average revenue per weekly active user, or U.S. weekly active user metrics; (e) as a result of (a)-(d) above, Nextdoor’s revenue guidance for fiscal year 2022 had no reasonable basis in fact and the Company was tracking tens of millions of dollars below the revenue trajectory provided to investors.

Eligibility

In order to be included in the lawsuit, you must have incurred a loss on shares of Nextdoor Holdings purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Nextdoor Holdings during the relevant time frame, you have until April 29, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.